Adobe (NASDAQ:ADBE) Shares Down 0.3% – Should You Sell?

Adobe Inc. (NASDAQ:ADBE) was down 0.3% on Friday . The company traded as low as $427.09 and last traded at $425.85. Approximately 1,019,361 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 3,898,689 shares. The stock had previously closed at $426.93.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ADBE shares. Oppenheimer cut their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Barclays cut their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Mizuho lowered their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Piper Sandler cut their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Finally, Sanford C. Bernstein reduced their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Price Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 1.07. The company has a 50-day moving average price of $476.55 and a 200-day moving average price of $512.82. The firm has a market capitalization of $189.28 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 1.97 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.52 earnings per share. On average, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. This represents a 2.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,763 shares of company stock valued at $893,665. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Adobe

Large investors have recently bought and sold shares of the business. Commonwealth Financial Services LLC increased its position in shares of Adobe by 3.7% during the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after acquiring an additional 19 shares in the last quarter. Onyx Bridge Wealth Group LLC boosted its stake in Adobe by 4.0% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock worth $272,000 after purchasing an additional 20 shares during the period. Connable Office Inc. increased its holdings in Adobe by 0.5% during the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after purchasing an additional 20 shares in the last quarter. 1ST Source Bank raised its stake in shares of Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after purchasing an additional 20 shares during the period. Finally, Sfmg LLC lifted its holdings in shares of Adobe by 3.1% in the second quarter. Sfmg LLC now owns 708 shares of the software company’s stock valued at $393,000 after purchasing an additional 21 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.